Page 2 - Fino Payments Bank

Sensex vaults 767pts, Nifty ends above 18,100; IT, financial stocks shine

In the primary market, Latent View Analytics IPO witnessed frenzied demand, and was subscribed over 305 times with strong demand from non-institutional investors

Fino Payments Bank makes weak debut, lists at 6% discount to issue price

The stock opened at Rs 544.35, a 6% discount to its issue price of Rs 577 per share

Fino Payments Bank subscribed two times on last day, HNI response tepid

IPO was Rs 300 crore fresh fund raise, Rs 900 crore secondary share sale by promoter Fino Paytech; bank will use fresh proceeds to augment tier-1 capital base

Fino Payments Bank raises Rs 539 cr from anchor investors ahead of IPO

Fino Payments Bank on Thursday said it has garnered Rs 539 crore from anchor investors ahead of its initial share sale that opens for public subscription on Friday

Policybazaar's Rs 5.8k-crore IPO to open on Monday: Check details here

The IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders

Fino Payments Bank IPO to open on October 29, price band Rs 560-577 a share

The offer consists of Rs 300 crore fresh fund raise and Rs 900 crore secondary share sale by promoter Fino Paytech

Fino Payments Bank IPO to open on Oct 29; price band set at Rs 560-577

Fino Payments Bank on Tuesday said it has fixed a price band of Rs 560-577 a share for its Rs 1,200-crore initial public offering, which will open on October 29. The three-day initial share-sale will conclude on November 2, the company announced in a virtual press conference. The initial public offer (IPO) includes a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 15,602,999 equity shares by the promoter Fino Paytech. The offer includes a reservation of Rs 3 crore worth of shares for the company's eligible employees. At the upper end of the price band, the initial share-sale is expected to fetch Rs 1,200.3 crore. Proceeds from the fresh issue would be used towards augmenting the bank's Tier-1 capital base to meet its future capital requirements. Investors can bid for a minimum of 25 equity shares and in multiples of 25 equity shares thereafter. The company said that up to 75 per cent of the total offer has been reserved for qualified institutional

Fino Payments Bank gets Sebi nod for initial share saleto raise Rs 1,300 cr

Markets regulator Sebi has given its nod for the initial public offering of Fino Payments Bank, which is looking to raise around Rs 1,300 crore

Fino Payments Bank files papers with Sebi for Rs 1,300-crore IPO

Fino Payments Bank has filed preliminary papers with markets regulator Sebi to raise an estimated Rs 1,300 crore through an initial share-sale.

Fino Payments Bank says inclusion in commercial bank list to boost biz

Fino Payments Bank on Wednesday said it will be able to improve its business prospects further as the RBI has included it in the category of a scheduled commercial bank. The Reserve Bank on Tuesday said it has included Fino Payments Bank in the Second Schedule of the Reserve Bank of India Act, 1934. The scheduled commercial bank, also called scheduled bank, status allows Fino to enhance its banking position in the treasury and participation in liquidity adjustment facility (LAF) window as per the RBI. It also helps the bank strengthen its business proposition on liabilities generation, Fino said in a release. "It provides strategic impetus for Fino Payments Bank to enhance its scope on balance sheet management and explore additional avenues for business. We are keen to capitalise on the growth opportunities that exist within the regulatory guidelines and build on the momentum of consistent profitability achieved last fiscal," said Rishi Gupta, MD & CEO, Fino Payments Bank. The ...

Fintechs show interest in becoming SFBs, but transitions involve risks

The fintech model is conceptualised as asset-light, which, in fact, played a huge role in Fino Payments Bank's early breakeven

Fino Payments Bank registers profit for the third straight quarter

Bank achieves transactions worth Rs 12,500 cr, twice that in the same month last year; eyes conversion into SFB following

Converting to a small finance bank is an option: Fino Payments Bank MD

RISHI GUPTA, managing director and chief executive officer, tells Raghu Mohan that if payments banks are allowed to give loans, the business model will be more sustainable

Now, Fino Payments Bank can open new accounts as RBI lifts ban

Paytm Payments Bank and Airtel Payments Bank were also barred from onboarding new customers earlier

Fino Payments Bank to raise up to Rs 200 cr via equity in FY18

FinoPayments Bank will raise upto Rs 200 crore in capital from new set of investorsin this financial year to fund the network expansion plans. Rishi Gupta,its managing director and chief executive, said bank will look at between Rs150-200 crore of capital to back expansion plans.In themedium term (2.5-three years) would look at listing bank on exchanges to meetregulatory condition set out in banking license. Exact timing for listing islinked to bank achieving break even, he said.Paymentsbank, backed by private lender ICICI Bank and oil marketing major BPCL, today commencedoperations with 410 branches and 25,000 touch points across 14 states in country.Airtel Payments Bank, Paytm Payments Bank and Postal Bank have already becomeoperational.In January2017 Fino completed its ?400 crore fund raising exercise. In the process thecompany has also complied with RBI's guidelines on having majority domesticshareholding.Earlier inJuly 2016 the company struck a strategic partnership with Bharat ..